Press Release 2018/11/01

KINGS has made the very first business alliance with Lakala, the world's largest Smart Payment Processing and Settlement POS Terminal manufacturer in the industry that is related to blockchain.

As a first step to adopt blockchain and making it accessible to payment and settlement processing infrastructure for the real world, a “Blockchain compatible Payment Process Terminal” has been jointly developed.

＜News Release＞

Hong Kong Sky King International Investment Ltd. (“HK Sky King”), an operating company for KING token, made a strategic business alliance with Lakala for the first time with a blockchain affiliated company.

This move is to better prepare for utilization with various blockchain based payment methods as a payment and settlement process infrastructure in a real world society.

Both companies aim to spread open a gateway for blockchain connectivity by using the compatible device terminal naming it "KINGS PAY"

KINGS has also entered into a primary agency contract with Lakala to make efforts to disseminate Lakala Terminals alongside.

KINGS is also scheduling itself by implementing field trial in areas run by KINGS Group such as vacation homes, hotels, cruise ships, and other various entertainment facilities in its Resort Development area.

Please refer to the figure below for the business model:

Furthermore, partial revenue of the payment settlement process fee will not only be made to HK Sky King when using KING token or blockchain based token developed by HK Sky King, but current blockchain related tokens that are circulating the market will also too. (Nominal such as Technical Provision Fee for QR Payment/Settlement and/or IC Card Payment/Settlement Process)

In the meantime, Lakala aims to further improve profit revenue by providing new payment methods to customers. Lakala is the only company that can manage this Multi-Channel Payment Settlement Process.